(August 23 – 15:05 ET) – The Alberta Securities Commission issued its reasons for its decision in the case against Patrick Joseph Little. The panel found that Little committed a series of violations of the Securities Act and that his conduct was contrary to the public interest.

The panel found that Little actively solicited, encouraged and advised individuals to purchase securities in a private placement without being registered or having filed a prospectus or having a registration or a prospectus exemption available to him. He also made prohibited representations under the Securities Act.

The ASC will reconvene on August 30 to consider what sanctions, if any, should be made against Little.
-IE Staff